Boskalis initiates EUR 100 million share buyback program
Papendrecht, 15 March 2019
Royal Boskalis Westminster N.V. (Boskalis) announces the start of a EUR 100 million share buyback program. Based on the current share price, this represents approximately 4.1 million shares representing slightly more than 3 percent of the current outstanding share capital.
The buyback program is aimed at reducing the issued share capital and was announced earlier this year. It is the intention to complete the program over a period of 18 months. Boskalis has engaged ING Bank N.V. to carry out the repurchasing of shares during open and closed periods.
Boskalis will provide weekly updates on the progress of the program on boskalis.com/sharebuyback and will publish a press release every Monday for the duration of the buyback program, provided shares were repurchased in the preceding week. Interested parties can subscribe to these share buyback press releases at email@example.com. Individual press releases will be available on request at the same email address.
This is a Boskalis press release on the grounds of article 17 paragraph 1 of the European Market Abuse Regulation (596/2014).
This is an English translation of the Dutch press release. In the event of any disparity between the Dutch original and this translation, the Dutch text will prevail. Royal Boskalis Westminster N.V. is a leading global services provider operating in the dredging, maritime infrastructure and maritime services sectors. The company provides creative and innovative all-round solutions to infrastructural challenges in the maritime, coastal and delta regions of the world. With core activities such as coastal defense, riverbank protection and land reclamation Boskalis is able to provide adaptive and mitigating solutions to combat the effects of climate change, such as extreme weather conditions and rising sea levels, as well as delivering solutions for the increasing need for space in coastal and delta regions across the world. The company facilitates the development of offshore energy infrastructure, including renewable wind energy. Boskalis is furthermore active in the construction and maintenance of ports, waterways, access channels and civil infrastructure, thus helping to facilitate trade flows and regional socio-economic development. In addition, Boskalis is a global marine salvage expert and has a number of strategic partnerships in harbor towage and terminal services (Kotug Smit Towage, Keppel Smit Towage, Saam Smit Towage and Smit Lamnalco). With a versatile fleet of more than 900 vessels and floating equipment and 11,300 employees, including associates, Boskalis is creating new horizons around the world.
This press release can also be found on our website www.boskalis.com.